BMR needs tweaks, not overhaul – EC official

Upcoming review “will not look fundamentally at the scope” of the third-country regime

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The EC must conduct of a review of the BMR before January 1, 2020

An upcoming review of the EU’s Benchmark Regulation is unlikely to introduce big changes to its third-country regime, an official at the European Commission has said.

The BMR requires foreign benchmarks to be registered with the EU before they can be used in new products sold within the bloc. The deadline for doing so was initially set for the end of 2019, but was extended by two years due to concerns that a number of foreign indexes, especially those in Asia, would likely fall foul of the rule

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